The Paris Stock Exchange ended up 0.44% on Friday, above 6,000 points, ignoring the US employment report which seems to still leave room for the Federal Reserve of the United States to tighten its monetary policy. .
The star CAC 40 index advanced 26.43 points to 6,033.13 points, its third consecutive upward session. It ends with a weekly increase of 1.72%.
The Parisian coast changed direction several times during the session, starting to fall in the two hours following the publication of employment figures in the United States at the start of the afternoon. But a last buying impulse made it possible to cross the 6,000 point mark.
After a very difficult month of June, the Parisian coast is in a phase of temporization of the downward trend, with several upward sessions which make it possible to correct certain excesses in the drop that there may have been, explains Christopher Lhuillier, responsible for financial investments at Milleis Banque. The longer-term trend remains precarious, he adds.
Inflation, recession, war in Ukraine still weigh heavily on the Paris market, which is still down 15.66% since January 1.
On Friday, the job market in the United States came as a surprise with much more job creation than expected in June, according to data from the Labor Department.
This comforts investors in the idea that the Fed will probably favor an increase of 0.75 percentage points at its next meeting at the end of July, analyzes Mr. Lhuillier.
In fact, the tension on the labor market could contribute to maintaining inflation, which the Fed has been trying to fight hard for several months.
On the bond market, the interest rate for the French 10-year loan rose slightly, to 1.87%, but still remained far from the 2% above which it had spent most of June.
Nearly 13 billion planned to buy EDF
EDF rose 5.64% to 9.56 euros, still supported by the announcement of its renationalisation. Thursday, the French Minister of Economy said that the government planned to mobilize 12.7 billion euros for this operation.
Weakness of luxury
Retirement : save by paying less tax. 11 contracts compared
Heavyweights on the Paris market, luxury stocks have fallen back, notably under the effect of the fall in the euro against the dollar, which reduces the value of their sales made outside the euro zone.
They may also have suffered from profit taking after strong gains at the start of the week. Thus, Herms fell by 1.43% to 1,070 euros, Kering by 0.83% to 501 euros, LVMH by 0.12% to 606.90 euros.
The biggest drop is for L’Oral, which fell 3.91% to 330.45 euros, which does not prevent it from finishing the week in the green (+0.32%).
Alstom yellow jersey
The railway manufacturer Alstom has signed the strongest increase of the week in the star CAC 40 index, climbing 11.20% to 24.32 euros, after notably announcing a new contract in India. Over the year, however, the stock remains down 22.10%.
Friday, on the expanded SBF 120 index, other discounted values of the year were also honored: OVH (+8.46% to 16.29 euros) and Casino (+6.11% to 13.54 euros).